Analysts Expect Sanmina Corp (SANM) to Announce $0.70 EPS
Equities analysts forecast that Sanmina Corp (NASDAQ:SANM) will report earnings per share of $0.70 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Sanmina’s earnings. The highest EPS estimate is $0.71 and the lowest is $0.69. Sanmina reported earnings per share of $0.75 during the same quarter last year, which would suggest a negative year over year growth rate of 6.7%. The company is expected to issue its next quarterly earnings report on Monday, January 29th.
According to Zacks, analysts expect that Sanmina will report full year earnings of $3.08 per share for the current fiscal year, with EPS estimates ranging from $3.07 to $3.08. For the next year, analysts expect that the firm will report earnings of $3.62 per share. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Sanmina.
Sanmina (NASDAQ:SANM) last issued its quarterly earnings data on Monday, October 30th. The electronics maker reported $0.64 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.12). Sanmina had a return on equity of 12.27% and a net margin of 2.02%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year.
A number of brokerages have commented on SANM. Zacks Investment Research raised shares of Sanmina from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. ValuEngine downgraded shares of Sanmina from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub downgraded shares of Sanmina from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Craig Hallum raised shares of Sanmina from a “hold” rating to a “buy” rating in a research report on Monday, December 18th. Finally, Argus downgraded shares of Sanmina from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Sanmina currently has an average rating of “Hold” and a consensus target price of $44.33.
Institutional investors have recently modified their holdings of the business. Chicago Equity Partners LLC grew its position in Sanmina by 30.1% during the 2nd quarter. Chicago Equity Partners LLC now owns 75,565 shares of the electronics maker’s stock worth $2,879,000 after purchasing an additional 17,490 shares during the last quarter. State Street Corp grew its position in Sanmina by 3.6% during the 2nd quarter. State Street Corp now owns 1,941,595 shares of the electronics maker’s stock worth $73,977,000 after purchasing an additional 67,853 shares during the last quarter. Martingale Asset Management L P grew its position in Sanmina by 6.7% during the 2nd quarter. Martingale Asset Management L P now owns 203,968 shares of the electronics maker’s stock worth $7,772,000 after purchasing an additional 12,814 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Sanmina during the 2nd quarter worth $625,000. Finally, Robeco Institutional Asset Management B.V. grew its position in Sanmina by 94.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 224,687 shares of the electronics maker’s stock worth $8,560,000 after purchasing an additional 108,990 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.
Shares of Sanmina (NASDAQ:SANM) traded down $0.05 during mid-day trading on Thursday, hitting $32.75. 930,600 shares of the stock traded hands, compared to its average volume of 579,578. The firm has a market cap of $2,360.00, a price-to-earnings ratio of 18.40, a P/E/G ratio of 0.92 and a beta of 0.78. Sanmina has a 52-week low of $29.95 and a 52-week high of $42.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.97 and a current ratio of 1.62.
Sanmina declared that its Board of Directors has initiated a stock buyback program on Monday, September 18th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the electronics maker to repurchase up to 77% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides its offerings primarily to original equipment manufacturers (OEMs) in various industries, including communications networks, storage, industrial, defense and aerospace, medical and energy.
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